E-Malt.com News article: 1351

The world's leading brewery Anheuser-Busch Cos., Inc. announced on July 23 its net income increased 7.8% to US$633m for the second quarter. Second quarter and first six months earnings per share increased 13.6 % and 12.8 %, respectively, versus the same 2002 periods. “Anheuser-Busch has once again delivered strong, dependable growth in earnings per share and return on capital,” said Patrick Stokes, president and chief executive officer. “The second quarter represents the company’s 19th consecutive quarter of solid double-digit earnings per share growth.”

Domestic revenue per barrel grew 3.5 % and 3.1 % in the second quarter and first six months of 2003, respectively, versus the same periods in 2002, reflecting the continued favorable beer industry pricing environment. Domestic revenue per barrel growth drove continued improvements in profit margins, with gross profit margin improving 40 basis points to 41.9 % and operating profit margin increasing 70 basis points to 25.4 % in the second quarter 2003. For the first six months of 2003, gross margin increased 60 basis points to 40.9 %, while operating margin increased 70 basis points to 24.4 percent. Return on capital employed improved to 17.9 %, an increase of 130 basis points over the past 12 months.

Domestic beer sales-to-wholesalers volume increased 0.7 % for the second quarter of 2003 vs. the second quarter 2002 and 1.0 % for the first six months of 2003. The company's results were driven by increased sales of Bud Light and the low-carb beer Michelob Ultra, as well as price increases in the period. A-B also managed to gain market share in the US, where it moved up to 50% for the first six months of 2003, versus a 48.4% market share in 2002.


25 July, 2003